It’s been a week since the release of Dank’s Cycles Token (XTC) 🚀 One week later, we’ve gotten amazing feedback from everyone, and can see XTC growing day by day!
We’re pumped to see the number of people choosing Cycles Token (XTC). Whether it was people using, and minting Cycles Token (XTC) directly through the XTC Token Canister, or through DFINITY’s Cycles Faucet, which released with Cycles Token (XTC) as an option to redeem your $100 of cycles for canister development.
We want to thank everyone for that awesome support, and for the chats we’ve been having in Discord/Twitter regarding XTC & Dank. From new ideas, features suggestions, doubts, or just open flow chats about the Internet Computer, we’ve been enjoying them all!
We’re going to be talking about what we’ve been working on the past week & what we’re going to bring into Cycles Token (XTC) in the near future, in our first Dank Talk. Let’s get to it!
What are Cycles Token (XTC) stats looking like? 📈
All right, one week in? What is the Cycles Token (XTC) looking at?
We currently have +536 Cycles Token (XTC) holders. That’s more than DOUBLE what we had last Friday, and the daily speed is nothing but growing! With all these users’ balances combined, there is a total of 38,667 Cycles Token (XTC) being held.
This means the Cycles Token (XTC) canister has 38,667,214,419,665,875 Cycles locked and minted into Cycles Token (XTC) so that users can hold, build, or trade them with just a Principal ID 🤯 That’s more than 38 quadrillion cycles!
The best part? People have used Cycles Tokens (XTC) to build and run over +35 canisters this last few days alone 🔋 We’re so pumped to see the first projects appearing built with it!
And what about Cycles Tokens (XTC) in the Cycles Faucet? 💧
As we said above, our release came with the conjoint release of DFINITY’s official Cycles Faucet tool; a tool we’ve built together with the DFINITY Foundation to give new developers on the IC a one-time entry redeem of $100 worth of cycles, to developing building/funding canisters.
Almost half of all current users of the Cycles Faucet selected Dank’s Cycles Token (XTC) to redeem their cycles! Meaning instead of receiving cycles to a Cycles Wallet, they received 75 Cycles Token (XTC), backed 1–1 with their redeemed 75T cycles ✨
The next updates coming to Cycles Token (XTC) 🧰
We have two main objectives we’ve been working on this week, and that is planned for the following weeks as an upgrade release:
1. Improvements to history storage — Mainly a maintenance and scalability upgrade, with a focus on improving the solution so people that want to surface/integrate XTC can better work with our transactions & history.
2. Including proxy canister call’s cost in the fee — This is not a charge or “usage” fee from our end. We are going to be adding a fee equivalent to the computation cost of making a proxy canister call through the XTC Token Canister (around 2 billion cycles), so that it is covered in the call’s cost, reducing the cost of maintaining the canister as a public good and Open Internet Service. The service should remain autonomous, and low cost, not depending on funding.
Bringing Cycles Token (XTC) into apps 🔌
The other thing we are working on right now is growing the Cycles Token (XTC) integration experience for apps & sites that want to surface it as a custom token and allow users to use its features (trade/canister development).
One of the first examples of this will come with Plug, which is soon to release the PlugAgent, and will then move to integrate XTC. Cycles Token (XTC) will be the token used in Plug to give users access to a cycles balance with just a Principal ID, as well as cycle operations in the extension (send, deposit, refill canister, etc.).
Wrapping it up! 👋
That’s it for this week’s Dank Talk! Can’t thank everyone enough for this awesome first week. Stay tuned for the release of the changes mentioned above, and hop on our Discord to let us know what you’d like to see next!
